Zacks: Brokerages Expect HP Inc. (NYSE:HPQ) Will Post Quarterly Sales of $15.29 Billion

Equities research analysts expect HP Inc. (NYSE:HPQ) to report $15.29 billion in sales for the current quarter, Zacks reports. Three analysts have provided estimates for HP’s earnings. The lowest sales estimate is $15.11 billion and the highest is $15.44 billion. HP posted sales of $15.37 billion during the same quarter last year, which suggests a negative year over year growth rate of 0.5%. The firm is expected to report its next earnings results on Thursday, December 5th.

On average, analysts expect that HP will report full-year sales of $58.64 billion for the current fiscal year, with estimates ranging from $58.46 billion to $58.79 billion. For the next fiscal year, analysts forecast that the company will report sales of $58.55 billion, with estimates ranging from $58.32 billion to $58.71 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for HP.

HP (NYSE:HPQ) last issued its earnings results on Thursday, August 22nd. The computer maker reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.03. The company had revenue of $14.60 billion for the quarter, compared to analyst estimates of $14.58 billion. HP had a net margin of 7.18% and a negative return on equity of 265.02%. The company’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter last year, the firm earned $0.52 EPS.

Several analysts have commented on the stock. Bank of America dropped their target price on shares of HP from $17.00 to $16.00 and set an “underperform” rating on the stock in a report on Friday, October 4th. JPMorgan Chase & Co. set a $19.00 target price on shares of HP and gave the stock a “hold” rating in a report on Friday, August 23rd. ValuEngine upgraded shares of HP from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Citigroup set a $20.00 price objective on shares of HP and gave the company a “hold” rating in a report on Friday, August 23rd. Finally, Wells Fargo & Co upgraded shares of HP to a “market perform” rating and lowered their price objective for the company from $23.00 to $20.00 in a report on Friday, August 23rd. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the company. HP has a consensus rating of “Hold” and an average target price of $19.73.

Shares of NYSE:HPQ remained flat at $$17.12 during mid-day trading on Monday. 6,376,528 shares of the company were exchanged, compared to its average volume of 11,121,674. The company has a market cap of $25.37 billion, a price-to-earnings ratio of 8.48, a PEG ratio of 3.39 and a beta of 1.42. The stock has a fifty day moving average of $17.89 and a 200 day moving average of $19.40. HP has a 1-year low of $15.93 and a 1-year high of $25.72.

In other HP news, insider Dion J. Weisler sold 437,171 shares of HP stock in a transaction on Monday, August 26th. The shares were sold at an average price of $18.01, for a total transaction of $7,873,449.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.25% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Valeo Financial Advisors LLC raised its stake in HP by 4.2% in the second quarter. Valeo Financial Advisors LLC now owns 12,516 shares of the computer maker’s stock valued at $260,000 after purchasing an additional 502 shares in the last quarter. PagnatoKarp Partners LLC raised its stake in HP by 4.4% in the second quarter. PagnatoKarp Partners LLC now owns 14,284 shares of the computer maker’s stock valued at $299,000 after purchasing an additional 599 shares in the last quarter. Cornerstone Advisors Inc. raised its stake in HP by 7.8% during the second quarter. Cornerstone Advisors Inc. now owns 8,719 shares of the computer maker’s stock worth $181,000 after acquiring an additional 632 shares in the last quarter. Montecito Bank & Trust raised its stake in HP by 2.8% during the third quarter. Montecito Bank & Trust now owns 24,655 shares of the computer maker’s stock worth $467,000 after acquiring an additional 676 shares in the last quarter. Finally, Kanawha Capital Management LLC raised its stake in HP by 4.7% during the second quarter. Kanawha Capital Management LLC now owns 15,356 shares of the computer maker’s stock worth $319,000 after acquiring an additional 695 shares in the last quarter. 79.63% of the stock is owned by institutional investors.

About HP

HP Inc provides products, technologies, software, solutions, and services to individual consumers, small- and medium-sized businesses, and large enterprises, including customers in the government, health, and education sectors worldwide. It operates through Personal Systems and Printing segments. The Personal Systems segment offers commercial personal computers (PCs), consumer PCs, workstations, thin clients, commercial tablets and mobility devices, retail point-of-sale systems, displays and other related accessories, software, support, and services for the commercial and consumer markets.

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